Common use of Loss Limitation Clause in Contracts

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss allocated pursuant to Section 7.04(a) hereof shall not exceed the maximum amount of Net Loss that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations, the limitation set forth in this Section 7.04(c) shall be applied on a Member by Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss to each Member under Treasury Regulations Section 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss The Losses allocated pursuant to Section 7.04(a) hereof 9.1 shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Yearfiscal year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations9.1, the limitation set forth in this Section 7.04(c9.2(a) shall be applied on a Member by Member-by-Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations Section section 1.704-1(b)(2)(ii)(d)) of the Treasury Regulations. All Losses in excess of the limitations set forth in this Section 9.2(a) shall be allocated to the Members in proportion to their Sharing Ratios.

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss Losses allocated pursuant to Section 7.04(a) hereof 5.1 to a Member shall not exceed the maximum amount of Net Loss Losses that can be allocated to such Member without causing such Member to have an Excess Loss. For this purpose, “Excess Loss” means any Loss the allocation of which would cause such Member to have an Adjusted Capital Account Deficit (or increase the amount of such deficit) at the end of any Fiscal Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits be allocated an Excess Loss as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations5.1, the limitation set forth in this Section 7.04(c) 5.6 shall be applied on a Member by Member basis and Net Loss Losses not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Member’s Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations Section § 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss The Losses allocated pursuant to Section 7.04(a) hereof 5.1 shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. In the event some but not all of the Members If only one (1) Member would have an Adjusted Capital Account Deficits Deficit as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof5.1, except as required by the Code and Treasury Regulations, then the limitation set forth in this Section 7.04(c5.2(a) shall be applied on a Member by Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Section 1.704-1(b)(2)(ii)(d) of the Regulations. All Losses in excess of the limitations set forth in this Section 5.2(a) shall be allocated to the Members in proportion to their Percentage Interests. This Section 5.2(a) shall be interpreted consistently with the loss limitation provisions of Regulations Section § 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by Notwithstanding the Code and foregoing provisions of Section 5.1 hereof, the Treasury Regulations, Net Loss Losses allocated pursuant to Section 7.04(a) 5.1 hereof shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal YearPeriod. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) 5.1 hereof, except as required by the Code and Treasury Regulations, the limitation set forth in this Section 7.04(c) 5.4 shall be applied on a Member by Member basis and Net Loss not allocable so as to any allocate the maximum permissible Losses to each Member as a result under Regulations Section 1.704-1(b)(2)(ii)(d). All Losses in excess of such the limitation set forth in this Section 5.4 shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts Member's capital accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations Section 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by Notwithstanding the Code and foregoing provisions of Section 5.1 hereof, the Treasury Regulations, Net Loss Losses allocated pursuant to Section 7.04(a) 5.1 hereof shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal YearPeriod. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) 5.1 hereof, except as required by the Code and Treasury Regulations, the limitation set forth in this Section 7.04(c) 5.4 shall be applied on a Member by Member basis and Net Loss not allocable so as to any Member as a result allocate the maximum permissible Losses to each Mem ber under Regulations Section 1.704-1(b)(2)(ii)(d). All Losses in excess of such the limitation set forth in this Section 5.4 shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts Member's capital accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations Section 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss The Losses allocated pursuant to Section 7.04(a) hereof 8.1 shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any such Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Yearfiscal year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations8.1, the limitation set forth in this Section 7.04(c8.2(a) shall be applied on a Member by Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under section 1.704-1(b)(2)(ii)(d) of the Treasury Regulations. All Losses in excess of the limitations set forth in this Section 8.2(a) shall be allocated to the Members in proportion to their Sharing Ratios. This Section 8.2(a) shall be interpreted consistently with the loss limitation provisions of Treasury Regulations Section § 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss The Losses allocated pursuant to Section 7.04(a) hereof 7.1 shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any such Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Yearfiscal year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations7.1, the limitation set forth in this Section 7.04(c7.2(a) shall be applied on a Member by Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations § 1.704-1(b)(2)(ii)(d). All Losses in excess of the limitations set forth in this Section 7.2(a) shall be allocated to the Members in proportion to their respective Proportionate Shares. This Section 7.2(a) shall be interpreted consistently with the loss limitation provisions of Treasury Regulations § 1.704-1(b)(2)(ii)(d).

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss The Losses allocated pursuant to Section 7.04(a) hereof 7.1 shall not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any such Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Yearfiscal year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations7.1, the limitation limitations set forth in this Section 7.04(c7.2(a) shall be applied on a Member by Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations Section §1.704-1(b)(2)(ii)(d) of the Treasury Regulations. All Losses in excess of the limitations set forth in this Section 7.2(a) shall be allocated to the Members in proportion to their Sharing Ratios. This Section 7.2(a) shall be interpreted consistently with the loss limitation provisions of Treasury Regulations §1.704- 1(b)(2)(ii)(d).

Loss Limitation. Except as required by the Code and the Treasury Regulations, Net Loss The Losses allocated to a Member pursuant to Section 7.04(a) hereof shall 6.2 will not exceed the maximum amount of Net Loss Losses that can be so allocated without causing any the Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Yearfiscal year. In the event that some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Net Loss Losses pursuant to Section 7.04(a) hereof, except as required by the Code and Treasury Regulations6.2, the limitation set forth in this Section 7.04(c6.5(a) shall will be applied on a Member by Member-by-Member basis and Net Loss not allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Members’ Capital Accounts so as to allocate the maximum permissible Net Loss Losses to each Member under Treasury Regulations Section § 1.704-1(b)(2)(ii)(d)) of the Treasury Regulations. All Losses in excess of the limitations set forth in the foregoing provisions of this Section 6.5(a) will be allocated to the Members in the proportion described in Section 5.2.